Why N1.16trillion pension infrastructure fund not utilised —PenCom DG

By Solomon Okpere ABUJA—THE Director General of National Pension Commission, PenCom, Chinelo Anohu-Amazu, Tuesday, lamented that of the N1.16 trillion available for infrastructure financing, only N1.36 billion had been so far accessed. The DG of PenCom which is responsible for the management of contributory pension funds from both public and private sectors of the nation’s economy, explained that the problem responsible for this development was largely due to lack of structured investment instruments for pension funds to participate in the provision of finance for infrastructure development in the country. This is as the PenCom DG has accepted the invitation to deliver the inaugural lecture at the Scottish Business in Africa Forum, SBIAF, today, at Edinburgh. The lecture presentation would highlight “Pension Funds: Opportunities for Infrastructure Support in the Development of African Economies”, the current size of Nigeria’s pension fund assets and historical growth perspectives. The lecture presentation will afford the DG the opportunity to take her drive for investment opportunities in the pension sector in the country to the international business community.